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Default HDTV freq. allocations, converter box availability info?

Does anyone know if it is true that the present VHF TV band will be
disbanded when HDTV finally takes over? What will then occupy those low
band frequencies? And what will be the new fequency allocations? Also
is there any hope for those of us who would like to keep our existing
NTSC equipment? There was talk of converter boxes being made available.
Will this be the case and will they be reasonably priced? Or are they
perhaps a home brew project that we might be able to build ourselves?
Thanks for any information. Lenny Stein, Barlen Electronics.